FRIEDBERG, Germany — (BUSINESS WIRE) — November 13, 2014 —
voxeljet AG (NYSE:
VJET) (the Company, or voxeljet), a leading
provider of high-speed, large-format 3D printers and on-demand parts
services to industrial and commercial customers, today announced
consolidated financial results for the third quarter ended September 30,
2014 for its group, which consists of voxeljet AG and Voxeljet of
America Inc. voxeljet AG holds 100% of the issued and outstanding shares
of Voxeljet of America Inc.

Highlights  Third Quarter 2014

Revenues increased 6.8% to kEUR 3,756 from kEUR 3,517

Systems revenues increased 23.3% to kEUR 2,264 from kEUR 1,836

Services revenues decreased 11.2% to kEUR 1,492 from kEUR 1,681

An operating disruption of one printer in our German service center
resulted in less available capacity

Shipped record box volumes for sand parts and generated record
revenues for sales of plastic parts

Revised full year 2014 revenue guidance to a range of between kEUR
15,000 and kEUR 16,000, from kEUR 18,000

Dr. Ingo Ederer, Chief Executive Officer of voxeljet, commented, In
Systems, we shipped four printers in the quarter but only received final
customer acceptance, which is required for revenue recognition, on three
of these printers. This is purely a timing issue. We expect to receive
the final acceptance report for the fourth printer in the fourth
quarter. Customer interest and quoting activity remains strong, and the
outlook for printer sales is positive based on our backlog. We continue
to make progress on our growth initiatives, however our results were
adversely affected by the temporary operating disruption of one VX4000
printer in our German service center due to technical issues. This
resulted in less available capacity during the quarter. This printer did
not operate for most of the third quarter and returned to service in
late September. We have been operating at normal capacity ever since.
Even with our capacity reduced in the third quarter, we shipped record
box volumes for sand parts, and generated record revenues for plastic
parts. We received a record volume of orders for both on-demand sand and
plastics parts, highlighting the growing acceptance of 3D printing for
production. We believe this validates our strategic positioning within
the industry.

Dr. Ederer continued, We are revising our revenue guidance for the year
ending December 31, 2014 to a range of between kEUR 15,000 and kEUR
16,000, from the previous guidance in excess of kEUR 18,000. This
reflects the operating disruption we experienced in Services in the
third quarter, as well as the later-than-anticipated opening of our
Canton, Michigan facility, which is now expected to start on-demand
parts production in the first quarter of 2015. In addition, delays in
the initial delivery of certain of our new 3D printer models, including
the VX2000, for which we have received orders, will result in the sale
of fewer printers in 2014 than we had previously anticipated. We now
expect that these printers will be delivered in 2015. The guidance
includes contribution from the acquisition of Propshop (Model Makers)
Limited on October 1, 2014. This has been a transition year for
voxeljet, as we are investing and positioning the business for the
future. I am very pleased with our progress and the milestones we have
achieved. Our long term outlook for revenue growth of approximately 50%
annually is unchanged.

Third Quarter 2014 Results

Revenues for the third quarter of 2014 increased by 6.8% to kEUR 3,756
compared to kEUR 3,517 in the third quarter of 2013.

Revenues from our Systems segment, which focuses on the development,
production and sale of 3D printers, increased 23.3% to kEUR 2,264 in the
third quarter of 2014 from kEUR 1,836 in last years third quarter. The
Company delivered four printers (three new and one used) in the third
quarter of 2014 but only received final customer acceptance, which is
required for revenue recognition, on three of these printers (all of
which were new). This compared to three new machines in last years
third quarter. Revenue for the fourth printer delivered in the third
quarter is expected to be recognized in the fourth quarter. Systems
revenues also includes all revenues from consumables, spare parts and
maintenance. Systems revenues represented 60.3% of total revenue in the
third quarter of 2014 compared to 52.2% in last years third quarter.

Revenues from our Services segment, which focuses on the printing of
on-demand parts for our customers, decreased 11.2%, to kEUR 1,492 in the
third quarter of 2014 from kEUR 1,681 for the same quarter last year.
The decrease was primarily attributable to the operating disruption of
one VX4000 printer - our largest format printer - at our service center
in Friedberg, Germany for most of the third quarter due to a technical
issue, which resulted in less available capacity during the quarter.
This printer returned to service in late September and we have since
been operating at full capacity. Even with the reduced capacity, we
still managed to ship record box volumes for sand parts in the third
quarter and experienced record revenues for plastic parts.

Cost of sales was kEUR 2,358 for the third quarter of 2014 compared to
kEUR 1,913 for the third quarter of 2013. Embedded in cost of sales was
expenses of kEUR 62 related to our Long Term Cash Incentive Plan
(LTCIP), which was initiated in October 2013.

Gross profit was kEUR 1,398 in the third quarter of 2014 compared to
kEUR 1,604 in the third quarter of 2013. The gross profit margin
decreased to 37.2% in the third quarter of 2014 from 45.6% in the third
quarter of 2013.

Gross profit for our Systems segment increased to kEUR 803 in the third
quarter of 2014 from kEUR 712 in the third quarter of 2013. The gross
profit margin for this segment decreased to 35.5% in the third quarter
of 2014 compared to 38.8% in the third quarter of 2013. This was mainly
due to increased headcount costs as we pursue our growth strategy. In
the third quarter of 2014, cost of sales in the Systems segment related
to the LTCIP was kEUR 35.

Gross profit for our Services segment decreased to kEUR 595 in the third
quarter of 2014 from kEUR 892 in the third quarter of 2013. The gross
profit margin for this segment decreased to 39.9% in the third quarter
of 2014 from 53.1% in the third quarter of 2013. The decrease in gross
margin was primarily related to the temporary operating disruption of
one VX4000 printer during the quarter, as well as higher overhead costs
resulting from increased headcount to pursue our growth strategy.
Product mix in the third quarter of 2014 was also less favorable to the
same period in 2013. As sand printers accounted for a greater percentage
of our installed capacity for the first time in the third quarter, we
believe that the trend in quarterly product mix comparisons is likely to
continue for approximately the next year. In the third quarter of 2014,
cost of sales in the Services segment related to the LTCIP was kEUR 27.

Selling expenses were kEUR 1,090 for the third quarter of 2014 compared
to kEUR 507 in the third quarter of 2013. This increase of kEUR 583
resulted from expanded sales efforts as we increased headcount and
attended more trade shows and fairs compared to the prior year period.

Administrative expenses were kEUR 1,077 for the third quarter of 2014
compared to kEUR 149 in the third quarter of 2013. This increase of kEUR
928 was primarily due to increased headcount related to the pursuit of
our growth strategy and costs associated with being a publicly-traded
company.

Research and development (R&D) expenses increased to kEUR 1,032 in the
third quarter of 2014 from kEUR 447 in the prior year period, as we
continued to invest heavily in R&D with a number of active projects in
various stages of development.

Our operating expenses for the third quarter of 2014 were affected by
the LTCIP. Selling, administrative and R&D expenses related to the LTCIP
were kEUR 39, kEUR 20 and kEUR 53, respectively.

Other operating expenses in the third quarter of 2014 were kEUR 18
compared to kEUR 308 in the prior year period. The other operating
expenses in the third quarter of 2013 consisted primarily of costs for
internal scoping and planning and external consulting services related
to our initial public offering, which was successfully completed in
October 2013.

Other operating income was kEUR 155 for the third quarter of 2014
compared to kEUR 207 in the third quarter of 2013.

Operating loss was kEUR 1,664 in the third quarter of 2014, compared to
an operating profit of kEUR 400 in the prior year period. Our operating
loss in the third quarter of 2014 was the result of an increase in our
operating expenses which was caused by increased headcount related to
the pursuit of our growth strategy and costs related to being a
publicly-traded company, including compensation expenses related to the
LTCIP of kEUR 174.

Net loss for the third quarter of 2014 was kEUR 1,518, or EUR 0.41 per
share, as compared to net income of kEUR 211, or EUR 0.11 per share, in
the third quarter of 2013.

Nine Months Ended September 30, 2014 Results

Revenues for the nine months ended September 30, 2014 increased by 15.4%
to kEUR 9,225 compared to kEUR 7,995 in the prior year period.

Systems revenues were kEUR 4,810 for the first nine months of 2014
compared to kEUR 3,885 in last years period. The Company sold seven new
3D printers in the first nine months of 2014 compared to six 3D printers
(five new and one used) in the prior year period. Systems revenues
represented 52.1% of total revenue for the nine months ended September
30, 2014 compared to 48.6% for the same period a year ago. Services
revenues were kEUR 4,415 for the nine months ended September 30, 2014
compared to kEUR 4,110 for the same period last year.

Cost of sales for the nine months ended September 30, 2014 was kEUR
5,888, an increase of kEUR 1,011, or 20.7%, over cost of sales of kEUR
4,877 for the same period in 2013. For the nine months ended
September 30, 2014, the cost of sales related to the LTCIP was kEUR 174.

Gross profit and gross margin for the nine months ended September 30,
2014 were kEUR 3,337 and 36.2%, respectively, compared to kEUR 3,118 and
39.0% in the prior year period.

Gross profit for our Systems segment increased to kEUR 1,494 for the
nine months ended September 30, 2014 from kEUR 1,320 in the same period
of 2013. The gross profit margin for this segment decreased to 31.1%
compared to 34.0% for the prior period primarily due to increased
headcount costs as we pursue our growth strategy. In the first nine
months of 2014, cost of sales related to the LTCIP was kEUR 99.

Gross profit for our Services segment increased to kEUR 1,843 for the
nine months ended September 30, 2014 from kEUR 1,798 in the same period
of 2013. The gross profit margin for this segment decreased to 41.7%
from 43.7%. In the first nine months of 2014, cost of sales related to
the LTCIP was kEUR 75.

Selling expenses were kEUR 2,628 for the nine months ended September 30,
2014 compared to kEUR 1,337 in the same period in 2013, an increase of
kEUR 1,291. Administrative expenses increased by kEUR 2,017, to kEUR
2,643 for the first nine months of 2014 from kEUR 626 in the prior year
period. The increases in selling and administrative expenses were in
line with our efforts to grow our business. R&D expenses increased to
kEUR 2,711 for the nine months ended September 30, 2014 from kEUR 1,368
in the same period in 2013, an increase of kEUR 1,343, or 98.2%. The
increase in R&D expenses in the first nine months of 2014 reflects our
emphasis on developing new 3D printing technology and improving our
existing 3D printing technology.

Our operating expenses for the nine month months ended September 30,
2014 were affected by the LTCIP. Selling, administrative and R&D
expenses related to the LTCIP were kEUR 109, kEUR 55 and kEUR 148,
respectively.

Other operating expenses for the nine months ended September 30, 2014
were kEUR 104 compared to kEUR 478 in the prior year period.

Other operating income was kEUR 1,103 for the nine months ended
September 30, 2014 compared to kEUR 737 in the prior year period. The
increase was mainly due to the recognition of kEUR 401 of deferred
income as a result of the early termination of three sale and leaseback
transactions.

Net loss for the nine months ended September 30, 2014 was kEUR 3,634, or
EUR 1.04 per share, as compared to a net loss of kEUR 167, or EUR 0.08
per share, in the prior year period.

Business Outlook

We are revising our revenue guidance for the year ending December 31,
2014 to a range of between kEUR 15,000 and kEUR 16,000, from our
previous guidance in excess of kEUR 18,000. This reflects the operating
disruption of one VX4000 printer in our German service center in the
third quarter, as well as the later-than-anticipated opening of our
Canton, Michigan facility, which is now expected to start producing
on-demand parts in the first quarter of 2015. We will also ship certain
of our newer 3D printer models later than we had previously anticipated.
The guidance includes contribution from the acquisition of Propshop
(Model Makers) Limited on October 1, 2014. Our long term outlook for
revenue growth of approximately 50% annually is unchanged

Our total backlog of 3D printer orders at September 30, 2014 was kEUR
4,144, which represents nine 3D printers. This compares to backlog of
kEUR 2,300, representing four 3D printers, at December 31, 2013. As
production and delivery of our printers is generally not characterized
by long lead times, backlog is more dependent on the timing of
customers requested deliveries.

At September 30, 2014, we had cash and equivalents of kEUR 10,217 and
held kEUR 44,997 of investments in three bond funds which are included
in current financial assets on our consolidated statement of financial
position.

voxeljet AG Acquires Propshop (Model Makers) Limited

On October 1, 2014, we completed the acquisition of all outstanding
shares of Propshop (Model Makers) Limited (Propshop). Propshop became
voxeljet UK, a wholly-owned subsidiary of the Company, and continues to
support the film and entertainment industry, as well as the broad,
growing consumer market for on-demand 3D printing services. Propshops
operating results will be included in voxeljets Services segment from
the date of the acquisition.

Long Term Cash Incentive Plan (LTCIP)

On October 2, 2013, we announced that we would be implementing,
effective on January 1, 2013, a long-term cash incentive plan (the
LTCIP) for senior management and other key personnel. An initial grant
of the awards under the LTCIP was made to participants on October 2,
2013. Personnel expenses incurred in the first nine months of 2014
related to the LTCIP amounted to kEUR 640. The first tranche of payments
under the LTCIP was settled in May 2014.

Incorporation of Voxeljet of America Inc.

On February 5, 2014, we incorporated our subsidiary, Voxeljet of America
Inc., in Delaware. Voxeljet of America Inc. is headquartered in our new
facility near Detroit, Michigan and conducts our North American
operations. voxeljet AG holds 100% of the issued and outstanding shares
of Voxeljet of America Inc. We expect that our U.S. service center,
which contains approximately 50,000 square feet will commence printing
parts in first quarter of 2015.

Webcast and Conference Call Details

The Company will host a conference call and webcast to review the
results for the third quarter of 2014 on Friday, November 14th at 8:30
a.m. Eastern Time. Participants from voxeljet will include its Chief
Executive Officer, Dr. Ingo Ederer, and its Chief Financial Officer,
Rudolf Franz, who will provide a general business update and respond to
investor questions.

Interested parties may access the live audio broadcast by dialing
1-877-705-6003 in the United States/Canada, or +1-201-493-6725 for
international, Conference Title voxeljet AG Third Quarter 2014
Financial Results Conference Call. Investors are requested to access
the call at least five minutes before the scheduled start time in order
to complete a brief registration. An audio replay will be available
approximately two hours after the completion of the call at
1-877-870-5176 or +1-858-384-5517, Replay Conference ID number 13594035.
The recording will be available for replay through November 21, 2014.

A live webcast of the call will also be available on the investor
relations section of the Companys website. Please go to the website (
http://www.voxeljet.de/en/)
at least fifteen minutes prior to the start of the call to register,
download and install any necessary audio software. A replay will also be
available as a webcast on the investor relations section of the
Companys website.

About voxeljet

voxeljet is a leading provider of high-speed, large-format 3D printers
and on-demand parts services to industrial and commercial customers. The
Companys 3D printers employ a powder binding, additive manufacturing
technology to produce parts using various material sets, which consist
of particulate materials and proprietary chemical binding agents. The
Company provides its 3D printers and on-demand parts services to
industrial and commercial customers serving the automotive, aerospace,
film and entertainment, art and architecture, engineering and consumer
product end markets. For more information, visit
http://www.voxeljet.de/en/.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements concerning our
business, operations and financial performance. Any statements that are
not of historical facts may be deemed to be forward-looking statements.
You can identify these forward-looking statements by words such as
believes, estimates, anticipates, expects, plans,
intends, may, could, might, will, should,
aims, or other similar expressions that convey uncertainty of future
events or outcomes. Forward-looking statements include statements
regarding our intentions, beliefs, assumptions, projections, outlook,
analyses or current expectations concerning, among other things, our
results of operations, financial condition, business outlook, the
industry in which we operate and the trends that may affect the industry
or us. Although we believe that we have a reasonable basis for each
forward-looking statement contained in this press release, we caution
you that forward-looking statements are not guarantees of future
performance. All of our forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that are in some
cases beyond our control and that may cause our actual results to differ
materially from our expectations, including those risks identified under
the caption Risk Factors in the Companys Annual Report on Form 20-F
and in other reports the Company files with the U.S. Securities and
Exchange Commission, as well as the risk that our revenues may fall
short of the guidance we have provided in this press release. Except as
required by law, the Company undertakes no obligation to publicly update
any forward-looking statements for any reason after the date of this
press release whether as a result of new information, future events or
otherwise.

voxeljet AG

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

09/30/2014

12/31/2013

Thousands of Euros

Notes

unaudited

Current assets

63,395

39,977

Cash and cash equivalents

6

10,217

33,459

Financial assets

3, 6

45,359

744

Trade receivables

6

1,476

1,003

Inventories

5,395

3,641

Income tax receivables

-

129

Other assets

4

948

1,001

Non-current assets

18,046

17,939

Financial assets

3, 6

1,330

1,561

Intangible assets

180

62

Property, plant and equipment

5

16,536

16,316

Deferred tax assets

-

-

Other assets

-

-

Total assets

81,441

57,916

09/30/2014

12/31/2013

Thousands of Euros

Notes

unaudited

Current liabilities

5,394

7,090

Deferred income

414

622

Trade payables

2,079

1,502

Income tax payable

-

14

Financial liabilities

6

1,264

1,922

Other liabilities and provisions

7

1,637

3,030

Non-current liabilities

4,113

5,426

Deferred income

882

1,337

Financial liabilites

6

2,464

3,863

Other liabilities and provisions

7

767

226

Equity

71,934

45,400

Subscribed capital

3,720

3,120

Capital reserves

75,671

46,038

Accumulated deficit

(7,392 )

(3,758 )

Accumulated other comprehensive loss

(65 )

-

Total equity and liabilities

81,441

57,916

voxeljet AG

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

Three months ended 09/30/2014

Three months ended 09/30/2013

Nine months ended 09/30/2014

Nine months ended 09/30/2013

Thousands of Euros

Notes

Revenues

8,9

3,756

3,517

9,225

7,995

Cost of sales

(2,358)

(1,913)

(5,888)

(4,877)

Gross profit

8

1,398

1,604

3,337

3,118

Selling expenses

(1,090)

(507)

(2,628)

(1,337)

Administrative expenses

(1,077)

(149)

(2,643)

(626)

Research and development expenses

(1,032)

(447)

(2,711)

(1,368)

Other operating expenses

(18)

(308)

(104)

(478)

Other operating income

155

207

1,103

737

Operating income (loss)

(1,664)

400

(3,646)

46

Finance expense

(71)

(95)

(237)

(286)

Finance income

217

5

249

17

Financial result

146

(90)

12

(269)

Income (loss) before income taxes

(1,518)

310

(3,634)

(223)

Income taxes

-

(99)

-

56

Net income (loss)

(1,518)

211

(3,634)

(167)

Other comprehensive loss

(145)

-

(65)

-

Total comprehensive income (loss)

(1,663)

211

(3,699)

(167)

Weighted average number of ordinary shares outstanding

3,720,000

2,000,000

3,500,220

2,000,000

Earnings (loss) per share - basic/ diluted (EUR)

(0.41)

0.11

(1.04)

(0.08)

voxeljet AG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

Subscribed capital

Capital reserves

Accumulated deficit

Accumulated other comprehensive income
(loss)

Total equity

Thousands of Euros

Balance at January 1, 2013

1,000

1,262

(1,044)

-

1,218

Loss for the period

-

-

(167)

-

(167)

Reorganization

1,000

(950)

-

-

50

Balance at September 30, 2013

2,000

312

(1,211)

-

1,101

Thousands of Euros

Balance at January 1, 2014

3,120

46,038

(3,758)

-

45,400

Loss for the period

-

-

(3,634)

-

(3,634)

Follow-on public offering

600

29,633

-

30,233

Net changes in fair value of available for sale financial assets

-

-

-

(118)

(118)

Foreign currency translation

-

-

-

53

53

Balance at September 30, 2014

3,720

75,671

(7,392)

(65)

71,934

voxeljet AG

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

Nine months ended 09/30/2014

Nine months ended 09/30/2013

Thousands of Euros

Cash Flow from operating activities

Loss for the period

(3,634)

(167)

Depreciation

1,425

1,119

Noncash sale to customer in exchange for customer loans

-

(678)

Proceeds from customer loans

173

57

Changes in deferred income taxes

-

(55)

Loss on disposal of assets

183

-

Deferred income

(663)

(478)

Change in working capital

(2,315)

(861)

Trade and other receivables and current assets

(291)

(1,008)

Inventories

(1,754)

(1,083)

Trade payables

577

520

Other liabilities and provisions

(833)

713

Income tax payable/receivables

(14)

(3)

Total

(4,831)

(1,063)

Cash Flow from investing activities

Proceeds from disposal of property, plant and equipment and
intangible assets

-

-

Payments to acquire property, plant and equipment and intangible
assets

(1,946)

(113)

Payments to acquire financial assets

(44,695)

(512)

Total

(46,641)

(625)

Cash Flow from financing activities

Proceeds (repayment) from bank overdrafts and lines of credit

(278)

843

Proceeds from sale and leaseback

-

1,900

Repayment of finance lease obligations

(1,276)

(1,064)

Repayment of long-term debt

(1,302)

(200)

Payment of share issuance costs

-

Proceeds from borrowings

800

-

Proceeds from issuance of shares

30,233

50

Total

28,177

1,529

Net increase (decrease) in cash and cash equivalents

(23,295)

(159)

Cash and cash equivalents at beginning of period

33,459

301

Changes to cash and equivalents due to foreign exchanges rates

53

-

Cash and cash equivalents at end of period

10,217

142

Supplemental Cash Flow Information

Interest received/paid net

81

(90)

Income taxes paid net

-

90

Non-cash items:

Additions to property, plant and equipment through lease

-

1,900

voxeljet AG

NOTES TO THE INTERIM FINANCIAL STATEMENTS

1. Preparation of financial statements

Our consolidated interim financial statements include the accounts of
voxeljet AG, which is listed on the New York Stock Exchange, and its
wholly-owned subsidiary Voxeljet of America Inc., which are collectively
referred to herein as the Group or the Company.

Our consolidated interim financial statements were prepared in
compliance with all applicable measurement and presentation rules
contained in International Financial Reporting Standards (IFRS) as set
forth by the International Accounting Standards Board (IASB) and
Interpretations of the IFRS Interpretations Committee (IFRIC). The
designation IFRS also includes all valid International Accounting
Standards (IAS); the designation IFRIC also includes all valid
interpretations of the Standing Interpretations Committee (SIC).
Specifically, these financial statements were prepared in accordance
with the disclosure requirements and the measurement principles for
interim financial reporting purposes specified by IAS 34.

The IASB issued a number of new IFRS standards which became effective
for the Companys financial year beginning on January 1, 2014.

The Company applied the new standards and amendments and determined that
they have no impact on the interim financial statements.

The interim financial statements as of and for the three and nine months
ended September 30, 2014 and 2013 were authorized for issue by the
Management Board on November 12, 2014.

Amendments IAS 32

01/2014

Offsetting Financial Assets and Financial Liabilities

Various Standards

01/2014

Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27)

IAS 36

01/2014

Amendment Recoverable Amount Disclosures for Non-Financial Assets

IAS 39

01/2014

Amendment Novation of Derivatives andContinuation of Hedge Accounting

IFRIC 21

01/2014

Levies

IAS 19

07/2014

Amendment Defined Benefit Plans: Employee Contributions

IFRS 14

01/2016

Regulatory Deferral Accounts

2. Summary of significant accounting policies

The principal accounting policies applied in the preparation of these
interim financial statements are set out in the financial statements as
of December 31, 2013, which can be found in the Companys Annual Report
on Form 20-F that was filed with the U.S. Securities and Exchange
Commission. These policies have been applied to all financial periods
presented.

3. Financial assets

The financial assets as of September 30, 2014 primarily consisted of
shares of three bond funds (kEUR 44.997) and three customer loans
(kEUR 1,388). The investments in the bond funds are measured at fair
value, and any unrealized gain or loss in the value of such shares is
recorded as other comprehensive income on our consolidated statement of
comprehensive loss.

4. Other assets

The other assets at September 30, 2014 primarily included kEUR 568 of
prepaid expenses.

5. Property, plant and equipment

09/30/2014

12/31/2013

Thousands of Euros

Land, buildings and leasehold improvements

11,227

7,566

Plant and machinery (includes assets under finance lease)

4,270

5,158

Other facilities, factory and office equipment

959

650

Assets under construction

80

2,942

Total

16,536

16,316

Leased assets included in Property, Plant and Equipment:

2,404

3,717

Printing machines

2,361

3,664

Other factory equipment

43

53

No impairment of non-financial assets was recorded in the nine-month
period ended September 30, 2014.

In the first nine months of 2014, the Group early terminated three sale
and leaseback transactions. As a result of the early terminations, kEUR
694 of liabilities were extinguished, kEUR 401 of deferred income was
recognized as other operating income, and kEUR 47 of extinguishment loss
was recognized in finance expense.

In the first nine months of 2013, the Group entered into sale and
leaseback transactions for four self-produced 3D printers with a total
value of kEUR 1,900. Related manufacturing costs were kEUR 851. The gain
of kEUR 1,049 was deferred and is amortized over the respective lease
term. No sale and leaseback transactions occurred in the first nine
months of 2014.

Leases of 3D printers are non-cash transactions for purposes of the
consolidated statement of cash flows.

6. Financial instruments

The fair value of a financial instrument is the price that would be
received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date.

The fair values and carrying amounts of financial assets categorized as
loans and receivables and available for sale securities for the
considered reporting periods were as follows:

09/30/2014

12/31/2013

carrying
amount

fair value

carrying
amount

fair value

Thousands of Euros

Loans and receivables

Cash and cash equivalents

10,217

10,217

33,459

33,459

Trade receivables

1,476

1,476

1,003

1,003

Financial assets

1,692

1,689

2,305

2,287

Available for sale

Financial assets

44,997

44,997

-

-

Total

58,382

58,379

36,767

36,749

The fair value of customer loans included in financial assets reported
as loans and receivables was determined using a discounted cash flow
model based on observable inputs from the relevant forward interest rate
yield curve plus an appropriate risk premium. The fair value of
available for sale financial assets represents the quoted price.

The fair values of carrying amounts of financial liabilities for the
considered reporting periods were as follows:

09/30/2014

12/31/2013

carrying

amount

fair value

carrying
amount

fair value

Thousands of Euros

Bank overdrafts and lines of credit

479

479

758

758

Long-term debt

1,005

1,043

1,507

1,573

Finance lease obligations

2,244

2,256

3,520

3,549

Total

3,728

3,778

5,785

5,880

The fair value of long-term debt was determined using discounted cash
flow models based on the relevant forward interest rate yield curves.
The fair value of finance lease obligations was determined using
discounted cash flow models on market interest rates available to the
Company for similar transactions at the relevant date.

Due to their short maturity and the current low level of interest rates,
the carrying amounts of credit lines and bank overdrafts approximate
fair value.

7. Other liabilities and provisions

As of September 30, 2014, the amount related to the LTCIP included in
non-current other liabilities and provisions on our consolidated
statement of financial position was kEUR 642 (December 31, 2013: kEUR
154).

8. Segment reporting

The following table summarizes segment reporting. The sum of the amounts
of the two segments equals the total for the Group in each of the
periods.

Three months ended 09/30/2014

Three months ended 09/30/2013

Thousands of Euros

SYSTEMS

SERVICES

SYSTEMS

SERVICES

Revenues

2,264

1,492

1,836

1,681

Gross profit

803

595

712

892

Gross profit in %

35.5%

39.9%

38.8%

53.1%

Nine months ended 09/30/2014

Nine months ended 09/30/2013

Thousands of Euros

SYSTEMS

SERVICES

SYSTEMS

SERVICES

Revenues

4,810

4,415

3,885

4,110

Gross profit

1,494

1,843

1,320

1,798

Gross profit in %

31.1%

41.7%

34.0%

43.7%

9. Revenues

The Groups revenues by geographic region were as follows:

Three months ended 09/30/2014

Three months ended 09/30/2013

Nine months ended 09/30/2014

Nine months ended 09/30/2013

Thousands of Euros

EMEA

2,066

3,421

6,372

7,753

Asia Pacific

1,633

19

2,376

94

Americas

57

77

477

148

Total

3,756

3,517

9,225

7,995

Contact:

voxeljet AGInvestors and MediaAnthony Gerstein
Director,
Investor Relations and Business Development
Email Contact+1-646-484-1086